Business
£2.9m raised through placing
£2.9m raised through placing.
About this update from Velocity Composites Plc
[{"type":"text","content":"\n RNS Number : 1707A Velti PLC 02 October 2009 \n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nFor Immediate Release\n\n\n2 October 2009\n\n\n\n\n\nVelti plc\n\n\n£2.9 MILLION RAISED THROUGH PLACING\n\nVelti Plc ('Velti' or 'the Company'), a leading provider of software platforms, applications and services for advertising agencies, mobile operators and media, announces that the Company has raised approximately £2.9 million (before expenses) by way of a placing by RBC Capital Markets of 1,820,000 new ordinary shares of 5 pence each in the capital of the Company (the 'Placing Shares') with institutional and other investors at a price of 160 pence per share (the 'Placing Price') (the 'Placing'). \n\nThe Placing Price is at a discount of 3.9 per cent. to the middle market price of the ordinary shares of the Company of 166.5 pence per share, as derived from the daily Official List of the London Stock Exchange on 1 October 2009, the latest date prior to the announcement.\n\nThe Placing Shares will, when issued, be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of 5 pence each in the capital of the Company, including the right to receive all dividends and other distributions declared, made or paid on or in respect of such shares after the date of issue of the Placing Shares. The Placing has been made on a non-pre-emptive basis.\n\nAs part of the Placing, David Hobley, a non-executive Director of Velti has purchased 20,000 Placing Shares at the Placing Price. Following this purchase, Mr Hobley will hold a total of 89,851 Velti ordinary shares.\n\nApplication has been made for the new ordinary shares to be admitted to trading on AIM and dealings are expected to commence on 8 October 2009. Following the Placing, there will be a total of 37,530,261 ordinary shares of 5 pence each in issue.\n\nAlex Moukas, Velti's Chief Executive Officer, commented: 'We are pleased to report that this placing of shares has been made in order to satisfy strong institutional demand for Velti's shares.' \n\nEND\n\n For further information, please contact:\n\n\n\n\n\nBankside Consultants\nSimon Bloomfield\[email protected]\n+44 (0)207 367 8861\n\nSteve Liebmann\[email protected]\n+44 ...